Civic Intelligence

Massrobotics Inc.

990 • Fiscal year 2022 • EIN 47-1919574

Jan 01, 2022 to Dec 31, 2022 • Filed on Apr 24, 2023

Organization ProfileWWW.MASSROBOTICS.ORG
12 Channel Street Suite 202Boston, MA 02210

(617) 960-5960

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

86th percentile

0.74x

Higher debt load relative to assets than 86% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

92nd percentile

3.61x

Higher debt load relative to revenue than 92% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

15th percentile

-12%

Higher net margin than 15% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

73rd percentile

$265,192

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

98th percentile

199%

Faster asset growth than 98% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

65th percentile

14%

Faster revenue growth than 65% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$16,518,630

Up $10,997,615 (+199%) from 2021

Net Assets

Down

$4,304,319

Down $389,288 (-8.3%) from 2021

Liabilities

Up

$12,214,311

Up $11,386,903 (+1376%) from 2021

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin15th percentile

Revenue

Up

$3,381,614

Up $411,178 (+14%) from 2021

Expenses

Up

$3,770,902

Up $1,595,666 (+73%) from 2021

Net Income

Down

-$389,288

Down $1,184,488 (-149%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2015: $10,100Liabilities 2015: $02015Assets 2016: $128,761Liabilities 2016: $6,062Net Assets 2016: $122,6992016Assets 2017: $282,404Liabilities 2017: $87,265Net Assets 2017: $195,1392017Assets 2018: $677,953Liabilities 2018: $116,933Net Assets 2018: $561,0202018Assets 2019: $4,836,926Liabilities 2019: $1,207,405Net Assets 2019: $3,629,5212019Assets 2020: $4,694,861Liabilities 2020: $796,454Net Assets 2020: $3,898,4072020Assets 2021: $5,521,015Liabilities 2021: $827,408Net Assets 2021: $4,693,6072021Assets 2022: $16,518,630Liabilities 2022: $12,214,311Net Assets 2022: $4,304,3192022Assets 2023: $16,149,840Liabilities 2023: $12,018,454Net Assets 2023: $4,131,3862023Assets 2024: $15,483,337Liabilities 2024: $11,560,615Net Assets 2024: $3,922,7222024

Highlighted filing

2022

Assets$16,518,630
Liabilities$12,214,311
Net Assets$4,304,319
Open 2022 Filing

Operations Trend

Revenue Growth65th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $10,100Expenses 2015: $0Net Income 2015: $10,1002015Revenue 2016: $257,521Expenses 2016: $144,922Net Income 2016: $112,5992016Revenue 2017: $805,645Expenses 2017: $733,205Net Income 2017: $72,4402017Revenue 2018: $1,757,933Expenses 2018: $1,395,936Net Income 2018: $361,9972018Revenue 2019: $4,637,979Expenses 2019: $1,564,795Net Income 2019: $3,073,1842019Revenue 2020: $2,123,353Expenses 2020: $1,854,467Net Income 2020: $268,8862020Revenue 2021: $2,970,436Expenses 2021: $2,175,236Net Income 2021: $795,2002021Revenue 2022: $3,381,614Expenses 2022: $3,770,902Net Income 2022: -$389,2882022Revenue 2023: $3,945,546Expenses 2023: $4,118,479Net Income 2023: -$172,9332023Revenue 2024: $4,010,021Expenses 2024: $4,218,685Net Income 2024: -$208,6642024

Highlighted filing

2022

Revenue$3,381,614
Expenses$3,770,902
Net Income-$389,288
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Apr 24, 2023
Return Version
2022v5.0
Gross Receipts
$3,480,042
Mission and Program Overview

Mission

The mission of the organization is to help create and scale the next generation of successful robotics and connected device companies by providing entrepreneurs and innovative robotics/automation startups with the workspace and resources they need to develop, prototype, test and commercialize their products and solutions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,048,643$3,944,841▼ $103,802
Savings and Temporary Cash Investments$751,444$510,778▼ $240,666
Pledges and Grants Receivable$515,241$318,459▼ $196,782
Cash and Non-Interest-Bearing Accounts$119,484$44,083▼ $75,401
Prepaid Expenses and Deferred Charges$10,632$14,784▲ $4,152
Total Assets$5,521,015$16,518,630▲ $10,997,615
Other Assets Total$75,571$11,685,685▲ $11,610,114
Liabilities
Other Liabilities$531,004$12,053,758▲ $11,522,754
Accounts Payable and Accrued Expenses$246,404$160,553▼ $85,851
Deferred Revenue$50,000--
Total Liabilities$827,408$12,214,311▲ $11,386,903
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,686,381$4,301,485▼ $384,896
Net Assets With Donor Restrictions$7,226$2,834▼ $4,392
Total Net Assets Fund Balance$4,693,607$4,304,319▼ $389,288
Total Liabilities and Net Assets / Fund Balance$5,521,015$16,518,630▲ $10,997,615

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,944,841$1,160,516$5,105,357
Other Assets Org$82,942--
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas RydenExecutive DiFT$265,192-$265,192
Thomas RydenExecutive Director-$265,192-$265,192
Joyce SidopoulosVP, ProgramsFT$188,031-$188,031
Joyce SidopoulosVP, Programs & Comm-$188,031-$188,031
Fady M SaadDirector, RoFT$129,253$5,030$134,283

Board Members and Trustees

NameTitle
Daniel TheobaldPresident
Colin AngleDirector
Cynthia Ann WebbDirector
Daniela RusDirector
Thomas HopcroftDirector
Tye BradyDirector
Timothy RoweTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Juan NecocheaConsulting43 WACHUSETT ST SPT 2, Jamaica Plain, MA 02130$118,010
Revenue and Support

Revenue Composition

Contributions and Grants
$2,522,131
Program Service Revenue
$914,013
Investment Income
$1,335
Other Revenue
$-55,865
All Other Contributions
$1,907,241
Change in Net Assets
$-389,288

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$107,400
Total Noncash Contributions1$107,400

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,381,614
Revenue Not Reported on Form 990
$110,568
Total Revenue per Audited Statements
$3,492,182
Total Revenue per Form 990
$3,381,614
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,619,303
Salaries, Compensation, and Employee Benefits$1,151,599
Total Fundraising Expense$362,231
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$1,032,554$258,138-$1,290,692
Other Salaries and Wages$415,931$122,409$211,686$750,026
Depreciation Depletion$299,130$74,782-$373,912
Current Officers, Directors, Trustees, and Key Employees$66,298$92,817$106,077$265,192
Office Expenses$59,330$16,951$8,476$84,757
Payroll Taxes$34,992$15,618$23,058$73,668
Other Employee Benefits-$62,713-$62,713
Fees for Services Accounting-$47,813-$47,813
Conferences and Meetings-$19,206$8,231$27,437
All Other Expenses$21,070$3,611$555$25,236
Travel$20,498-$2,278$22,776
Other Expenses$13,090$3,740$1,870$18,700
Advertising$9,247$4,555-$13,802
Insurance$10,303$2,576-$12,879
Interest-$12,855-$12,855
Total Functional Expenses$2,670,887$737,784$362,231$3,770,902

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,881,470
Expenses per Audited Statements$3,770,902
Total Expenses per Form 990$3,770,902
Expenses Not Reported on Form 990$110,568
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$98,428
Fundraising Gross Income$40,000
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Block Party$40,000$40,000$98,428$-58,428
Total Events$40,000$40,000$98,428$-58,428
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$11,997,323
Security Deposits$56,425
Rounding$10
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Executive director will review and discuss the tax return with the independent cpa audit firm. The executive director will subsequently update the treasurer and review with appropriate members of the board of directors.”

Form 990, Page 6, Part VI, Line 12C

“Board is required to disclose any conflict of interest immediately.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon requests.”

Filing and Contact Details

Filer

Filer Name
Massrobotics Inc
EIN
47-1919574
Phone
6179605960
Address
12 CHANNEL STREET SUITE 202, BOSTON, MA 02210

Signing Officer

Name
Thomas Ryden
Title
Executive Director
Phone
6179605960
Signed
2023-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Theobald
Formed
2015
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
8
Employees
13
Volunteers
40

Preparer

Firm
Cain Bourret Jarry & Cressman LLC
Address
1175 MAMMOTH ROAD SUITE 2A, DRACUT, MA 01826
Preparer
Kristin M Cressman
Phone
9789571421
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission of the organization is to help create and scale the next generation of successful robotics and connected device companies by providing entrepreneurs and innovative robotics/automation startups with the workspace and resources they need to develop, prototype, test and commercialize their products and solutions.”

Form 990, Page 2, Part III, Line 4A

“The organization is an independent, non-profit organization serving as the innovation hub for robotics and connected devices. Through our programming and events, we help bring together innovative startups and existing technology organizations to nurture the next generation of talent, and promote economic growth and innovation. By working with diverse local talent, we are helping to bring about the next global evolution of robotics. The organization promotes the development of common-need technology services, such as software and standards support for the robotics community, foster a collaborative ecosystem for academic, private, and public key stakeholders that allows thought-sharing and creative exchange, and inspire the next generation of innovators and builders through in-house hands-on stem collaboration and initiatives.”

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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,518,630
Liabilities
$12,214,311
Net assets
$4,304,319
Revenue
$3,381,614
Expenses
$3,770,902
Net income
-$389,288
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.5$11.6$3.92$4.01$4.22$0.21
2023Summary only. Only limited summary data is available for this year.$16.1$12.0$4.13$3.95$4.12$0.17
2022Detailed filing. Detailed filing data is available for this year.$16.5$12.2$4.30$3.38$3.77$0.39
2021Summary only. Only limited summary data is available for this year.$5.52$0.83$4.69$2.97$2.18$0.80
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.69$0.80$3.90$2.12$1.85$0.27
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.84$1.21$3.63$4.64$1.56$3.07
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.68$0.12$0.56$1.76$1.40$0.36
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.09$0.20$0.81$0.73$0.07
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.13$0.01$0.12$0.26$0.14$0.11
2015Summary only. Only limited summary data is available for this year.$0.01$0.00$0.01$0.00$0.01